Chubb Limited $CB Shares Sold by Canopy Partners LLC

Key Points

• Canopy Partners LLC reduced its stake in Chubb Limited by 41.9% in the second quarter, holding 2,815 shares valued at $816,000.
• Insider Michael Corbat increased his ownership in Chubb by 20.99% after purchasing 425 shares at an average price of $269.80.
• Chubb's stock has experienced analyst ratings ranging from "strong-buy" to "sell", with a consensus price target of $303.72 and a recent quarterly earnings report showing a net income that exceeded expectations.

Canopy Partners LLC cut its position in shares of Chubb Limited (NYSE:CB - Free Report) by 41.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,815 shares of the financial services provider's stock after selling 2,033 shares during the quarter. Canopy Partners LLC's holdings in Chubb were worth $816,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. E Fund Management Co. Ltd. increased its stake in Chubb by 3.9% during the first quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider's stock worth $291,000 after acquiring an additional 36 shares during the last quarter. Rise Advisors LLC increased its stake in Chubb by 4.6% during the first quarter. Rise Advisors LLC now owns 841 shares of the financial services provider's stock worth $254,000 after acquiring an additional 37 shares during the last quarter. Avantax Planning Partners Inc. increased its stake in Chubb by 5.1% during the first quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider's stock worth $236,000 after acquiring an additional 38 shares during the last quarter. Sky Investment Group LLC increased its stake in Chubb by 1.6% during the second quarter. Sky Investment Group LLC now owns 2,397 shares of the financial services provider's stock worth $694,000 after acquiring an additional 38 shares during the last quarter. Finally, Lincoln Capital LLC increased its stake in Chubb by 0.6% during the first quarter. Lincoln Capital LLC now owns 6,962 shares of the financial services provider's stock worth $2,022,000 after acquiring an additional 39 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Michael Corbat purchased 425 shares of the stock in a transaction dated Friday, July 25th. The shares were bought at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the transaction, the director owned 2,450 shares in the company, valued at $661,010. This trade represents a 20.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.86% of the company's stock.

Wall Street Analysts Forecast Growth

CB has been the subject of several analyst reports. Hsbc Global Res downgraded Chubb from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Piper Sandler reaffirmed a "neutral" rating and issued a $283.00 target price (down previously from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Cantor Fitzgerald raised Chubb to a "hold" rating in a research report on Wednesday, August 13th. Keefe, Bruyette & Woods upped their target price on Chubb from $324.00 to $333.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, Barclays downgraded Chubb from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $321.00 to $298.00 in a research report on Monday, July 7th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $303.72.

Chubb Stock Up 1.0%

Shares of Chubb stock opened at $289.24 on Wednesday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The business's 50 day simple moving average is $275.58 and its 200-day simple moving average is $282.08. The stock has a market capitalization of $115.32 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 3.23 and a beta of 0.54. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts' consensus estimates of $5.84 by $0.30. The business had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business's quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $5.38 EPS. Equities research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were given a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, September 12th. Chubb's dividend payout ratio (DPR) is currently 17.12%.

About Chubb

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.

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